Analysts Set Palomar Holdings, Inc. (NASDAQ:PLMR) Target Price at $115.50

Palomar Holdings, Inc. (NASDAQ:PLMR) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $115.50.

Several research analysts have recently issued reports on PLMR shares. Keefe, Bruyette & Woods lifted their price target on Palomar from $120.00 to $136.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on Palomar from $93.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their price objective on Palomar from $119.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th.

Insider Buying and Selling at Palomar

In related news, CEO Mac Armstrong sold 2,791 shares of the business’s stock in a transaction that occurred on Sunday, January 26th. The stock was sold at an average price of $101.69, for a total transaction of $283,816.79. Following the transaction, the chief executive officer now directly owns 62,639 shares of the company’s stock, valued at approximately $6,369,759.91. The trade was a 4.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO T Christopher Uchida sold 1,111 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $104.00, for a total value of $115,544.00. Following the transaction, the chief financial officer now directly owns 16,432 shares in the company, valued at $1,708,928. This trade represents a 6.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,239 shares of company stock worth $4,374,199 in the last 90 days. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palomar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new position in shares of Palomar in the 4th quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Palomar in the 3rd quarter valued at approximately $25,000. GAMMA Investing LLC raised its position in shares of Palomar by 48.6% in the 3rd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Palomar by 536.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 414 shares of the company’s stock valued at $43,000 after purchasing an additional 349 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Palomar by 490.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the company’s stock valued at $43,000 after purchasing an additional 378 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Palomar Stock Down 0.7 %

NASDAQ:PLMR opened at $109.92 on Monday. The company has a market capitalization of $2.91 billion, a PE ratio of 26.11 and a beta of 0.38. Palomar has a 52-week low of $58.77 and a 52-week high of $112.90. The stock has a fifty day simple moving average of $106.91 and a 200-day simple moving average of $99.90.

Palomar Company Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.